German bank NordLB says expects earnings rise in 2014
FRANKFURT, April 29
FRANKFURT, April 29 (Reuters) - German state-owned lender NordLB expects to boost earnings in 2014 after seeing net profit triple to 245 million euros ($339 million) last year.
NordLB, which has a strong exposure to shipping, said on Tuesday that it expects provisions for bad loans to stay above average in 2014 and sees a recovery in some sub-sectors starting next year.
Chief Executive Gunter Dunkel said that the lender is well prepared for a health check of European banks to be carried out by the European Central Bank over the coming months.
($1 = 0.7223 Euros) (Reporting by Andreas Kröner; writing by Arno Schuetze; Editing by Jonathan Gould)